Renewable/Bio Jet Fuel Report Growth Impact over the Forecast Year 2019-2026: Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation

Bio jet is an aviation fuel made from renewable and naturally derived raw materials. It is mixed with petroleum jet fuel and is suitable for use in exiting jet engines. Bio jet fuels have lower greenhouse gas emissions as compared to petroleum jet fuel. The need for the use of environmental friendly jet fuel in order to reduce the greenhouse gas emissions from the aviation sector is a major driver for the bio jet market.

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Major players operating in the global Bio Jet Fuel market include, Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir Paramount LLC, S.G. Preston Company, SkyNRG BV, Eni SpA Total S.A., and BP PLC

Market Dynamics

Among feedstock, energy crops segment is gaining traction in the bio jet fuel market due to the fact that energy crops converted via gasification and Fischer-Tropsch (FT) synthesis can result in very low lifecycle GHG emissions. For instance, According to Briefing paper ‘Aviation biofuels: strategically important, technically achievable, tough to deliver’, published by Imperial College London in 2017, Bio jet GHG emissions caused due to energy crops are in the range of 9-13 gCO2e/MJ which is very lower as compared to other feedstock such as sugarcane (26 gCO2e/MJ). Therefore demand for energy crops is expected to increase in forecast period.

Among regions, North America accounted for the largest market share in 2017 and is expected to dominate the market over the forecast period. According to AITA, the U.S. airlines alone burnt about 16.2 billion gallons of fuel during the twelve months between October 2013 and September 2014. Therefore higher demand for renewable aviation fuels is expected to drive the bio jet fuel market in the near future.

Research is being done on alcohol-to-jet pathway, where alcohols such as ethanol or butanol are de-oxygenated and processed into jet fuels. Abundance of feedstock such as ethanol and lignocellulose crops in Latin America is expected to boost growth of the bio jet fuel market in the region. For instance, according to United States Department of Agriculture, in 2015-16 ethanol production in Brazil was registered at 30 billion liters which is expected to reach 31 billion by 2019. Therefore, Latin America has potential to grow in bio jet fuel market due to growing ethanol industry and major regulatory initiatives to reduce carbon emission in Latin America.

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Detailed Segmentation:

Global Bio Jet Fuel Market, By Conversion Pathway:
Fischer TropschSynthetic Paraffinic Kerosene (FT-SPK)
Hydroprocessed Esters and Fatty Acids (HEFA)
Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (SIP)
Alcohol to Jet SPK (ATJ-SPK)

Global Bio Jet Fuel Market, By Feedstock:
Agriculture Crops
Aquaculture Crops
Energy Crops
Municipal Solid Waste
Others (Animal Fats, Sugar, etc.)

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